Powell sought fast end in 2013 to Fed’s bond-buying program – SWINGS WILL CONTINE THIS WEEK.
Federal Reserve Chairman Jerome Powell, in his early days on the U.S. central bank’s board of governors, argued frequently and forcefully for an end to the bond purchases undertaken to support the recovery from the financial crisis, transcripts of policy meetings from 2013 released on Friday showed. Read More @ https://www.reuters.com/article/us-usa-fed-2013/powell-sought-fast-end-in-2013-to-feds-bond-buying-program-idUSKCN1P522P
WHAT IS THE TECHNICAL CHARTS SAYING?
OPEC is not the enemy of the US, UAE minister says
The Organization of Petroleum Exporting Countries is not the enemy of the United States, United Arab Emirates Energy Minister Suhail al-Mazrouei said on Saturday in Abu Dhabi. “We are complementing each other, we are not enemies here,” he told an industry news conference in Abu Dhabi, addressing the relationship between OPEC and major consuming countries, like the United States. OPEC and other leading global oil producers led by Russia agreed in December to cut their combined oil output by 1.2 million barrels per day in order to balance the oil market starting from January. Read More @ https://www.reuters.com/article/us-emirates-opec-us-oil/opec-is-not-the-enemy-of-the-us-uae-minister-says-idUSKCN1P606P?feedType=RSS&feedName=businessNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FbusinessNews+%28Business+News%29
Getting To $1,300: Longest U.S. Gov’t Shutdown, U.S.-China Trade Talks, Brexit Troubles
Gold prices are expected to hold their ground next week, with volatility in the marketplace working in the yellow metal’s favor. Gold had a solid week with one serious attempt to breach the critical psychological $1,300 level. Overall, prices are up 0.2% on the week, with February gold futures last trading at $1,289.80. The U.S. inflation data was the big news on Friday, but had little impact on the precious metal space as the consumer price index for December came in line with expectations, down 0.1% on a monthly basis and up 1.9%, year-on-year. Read More @ https://www.kitco.com/news/2019-01-11/Getting-To-1-300-Longest-U-S-Gov-t-Shutdown-U-S-China-Trade-Talks-Brexit-Troubles.html
VIEWS FOR THIS WEEK.
- USD will still dominate the market; most of other currencies already have their good pullback to resistance points.
- Oil will continue to swing as OPEC continues to stay neutral and alternatives energy are getting and being a stumbling block for OPEC.
- GOLD will stop its rally as we believe the US Government shutdown will be settled soonest – rate hike by the FED will continue.
WHAT ARE TRADING APPROACH?
- We will maintain our Copy Trade for swings.
- We will focus on EURUSD – as its swings will give us good day trading approach.
- We will also focus on USDCNH as its already oversold at this point and China domestic challenges are just beginning.
Be safe and always have good money management.
High Risk Investment Warning:
Please note that Forex and other leveraged trading involves significant risk of loss, It is not suitable for all traders and you should make sure you understand the risks involved, it is recommended that you seek an independent advice, if necessary.